BusinessCompany NewsGrant Thornton survey finds private equity on defensive

Grant Thornton survey finds private equity on defensive

Industry feels unjustly criticised

Nearly three-quarters of private equity executives feel they have high
ethical standards, while almost half think the left-wing press is against them,
according to a new survey by Grant
Thornton
.

The firm questioned 100 private equity executives involved in deals worth at
least £5m and found that 73% regarded their industry as having high ethical
standards.

Asked whether their own firms had a formal code of ethics, 24% said yes,
two-thirds claimed to have an informal code and 7% admitted to having no written
code at all.

‘The clear message coming through the survey is that the private equity
industry believes its image in the media is unfairly represented and that its
ethical standards are far higher than it is being given credit for,’ said
Mat
Bhagrath
at Grant Thornton.

Further reading:

Darling considers private equity reforms

Peugeot boss angered by private equity ‘unfairness’

Accountants quit jobs to form private equity firm

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